Japanese Yen, Australian Dollar see ‘Flash Crash’ Movements in Forex Trading

January 2, 2019

By CountingPips.com

The Japanese Yen rose extremely sharply in the currency markets today with ‘flash crash’-like movements that brought the USDJPY exchange rate under the 105.00 level. The markets were clearly affected by Apple’s sales warning that revenue would be coming in less than expected and prompted worries about China’s economy.

The news hit risky currencies like the Australian dollar hard while the Japanese yen, usually a beneficiary of demand when the markets become stressed, spiked in strength. The US dollar (USDJPY) fell to the lowest level since March 2018 against the yen while the Euro (EURJPY) dropped to the lowest level since April of 2017 vs the yen.

Get our Weekly Commitment of Traders Report: - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.

Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter

The risk-off moves pulled the Australian dollar down against the US dollar as well.

By CountingPips.com